City of Falls Church:
“At a Falls Church City Council work session Monday, members
of the City’s Economic Development Authority (EDA) presented plans for using
their portion of the sale of their property at 301 W. Broad (the old Podolnick
site) to Rushmark Properties for the new Harris Teeter project as a land banking
resource. The EDA plan would set up a land banking fund with the net $1.8
million that will come to them when the closing on the Rushmark deal comes
later this month, and some on the City Council also expressed the hope that the
City’s portion of proceeds from that deal would also be contributed to the
fund.
It was the EDA’s ability to act quickly on an offer back in
2000 that delivered the Podolnick site currently valued at $4 million and a key
to the massive Rushmark project, for only $500,000.”
~ Falls Church
News-Press
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